Trend or Range MT4 Indicator shows you whether a pair is trending or ranging. It shows ADX and CCI values for multiple timeframes to help you decide which trading technique to use. Sometimes you’ll see short-term trends against the H4 and D1 trend. However, trading with the long-term trend is the best approach.
Green is up, Red is down, Blue is ranging. There are two arrows for both up and down depending on the strength of the trend.